German Official: Actually, There Are No Serious Differences Between Germany And France On EFSF

A German official told Bloomberg today that the divisions between
Germany and France on the EFSF have been way overblown.

Evidently, there are no "fundamental or serious" differences
between the two countries on how to handle the rescue fund, and
that the October 26 meeting "had nothing to do with Franco-German
disagreement" (quotes from Bloomberg).

Even so, the facts suggest that differences do indeed exist in
the policy recommendations endorsed by the two governments. And
even if France and Germany more or less agree on what to do, it
could not be more clear that the 17 leaders of EU countries
remain divided on the policy that will best stem the crisis.

These divides were evident in yesterday's announcement of a
second EU summit to take place by October 26. This comes after
the first summit — which will still take place this weekend — was
postponed by more than a week.